New economic development corporation to support ₾40 billion in investment over decade, PM

Georgia’s new Economic Development Corporation will facilitate up to GEL 40 billion in new investment over the next decade, Prime Minister Irakli Kobakhidze said at the institution’s official presentation.

Kobakhidze described the initiative as a major new instrument for strengthening cooperation between the state and businesses and accelerating economic development.

He said the government’s economic policies had helped drive rapid growth, expanding opportunities for the private sector and creating a need for broader, long-term state support.

The official further claimed the government programmes implemented through the state agency Enterprise Georgia since its establishment in 2014 had delivered tangible results. Between 2014 and 2025, more than 20,000 entrepreneurs benefited from government programmes, nearly GEL 8.5 billion in investment was made, and approximately 90,000 jobs were created.

Over the same period, employment in the small and medium-sized business sector increased from 405,000 to 544,000, while output rose from GEL 14.8 billion to more than GEL 54 billion, he said. Average wages at medium-sized companies increased from GEL 998 to GEL 2,760, while exports by small and medium-sized enterprises grew from USD 1.3 billion to USD 2.7 billion, Kobakhidze added.

He said the new corporation would build on this experience while combining expertise and financial resources previously spread across different government agencies.

The institution will have a broader mandate than existing support mechanisms, assisting both small and medium-sized enterprises and large-scale projects of strategic importance. It will also promote alternative sources of financing by investing in private investment funds, the prime minister said.

“Our priority is for every entrepreneur to feel the state’s ongoing support, from starting a business to entering domestic and international markets,” Kobakhidze said.

He added that the corporation would give the government more flexible and comprehensive tools to strengthen the private sector.

Kobakhidze thanked the economy minister, deputy ministers and others involved in developing and implementing the initiative, wishing the new institution success.